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Jan 18, 2013
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now eunice eu joins us from beijing with more of the details. eunice, there have been questions about china's reliability in data. over the past couple of years. >> there's always a big question about that. in fact, goldman sachs and ubs were some of the brokerages that came out recently questioning the latest december numbers for the export figures. they were concerned that the export numbers reported by china didn't seem to match the export data from its trading partners and the slow at some of the ports. that was raising questions. the chinese officials came out and defended the numbers and said that the numbers were all well and good. there is so much skepticism about that. the trade data was looking as though it was very much in flux. however, when you take a look at those in isolation, it raises a lot of question marks. but in terms of going forward, how you read these data points, most economists say you have to look at them as guidelines. this is a developing economy. so in terms of guidelines, the latest figures that we saw for 2012 in
now eunice eu joins us from beijing with more of the details. eunice, there have been questions about china's reliability in data. over the past couple of years. >> there's always a big question about that. in fact, goldman sachs and ubs were some of the brokerages that came out recently questioning the latest december numbers for the export figures. they were concerned that the export numbers reported by china didn't seem to match the export data from its trading partners and the slow at...
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Jan 24, 2013
01/13
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so doing something about that by saying, let's get clear the shape of the eu we do want. what is the shape of that? that has to be about the single market, about a more competitive europe. and that is something that i think they can take back and say that's a good thing for britain. and so i think you have to move towards it because the uncertainty is there today and those businesses will reflect that, anyway. i don't think illustrate necessarily changes. >> have you seen any changes in terms of the economic landscape? >> yeah. i think what we're seeing is probably a softening in some of the major french and consumer markets. >> and germany is more positive than the french market, but it's slowed down a bit. by contrast, we've seen good gdp numbers. in fact, i think we've seen a six-month softening in the eurozone which i think is an important factor there that the british politicians need to reflect. the french market is very much the uncertainty around tax success government. i think that will wash through. >> if we now believe in that, that impacted that small percenta
so doing something about that by saying, let's get clear the shape of the eu we do want. what is the shape of that? that has to be about the single market, about a more competitive europe. and that is something that i think they can take back and say that's a good thing for britain. and so i think you have to move towards it because the uncertainty is there today and those businesses will reflect that, anyway. i don't think illustrate necessarily changes. >> have you seen any changes in...
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Jan 8, 2013
01/13
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slower growth in the economy, the eu debt crisis and superstorm sandy are expected to top issues. take a look at shares this morning. before the report, they're down .75% in frankfurt. so trailing the 34k9. they have been roughly flat over the last few months. james is a huge fan of werings season. you're so excited about this one, i know. >> i live for the wering hes season. you could spend almost your entire time -- >> there's only about three months of the year when you're not engaged in looking at earnings. >> ask you're probably on holiday. >> and are we too focused on werings season? >> samsung, earnings results up, share price down. if you think earnings is relative for share price performance, it isn't. we're talking about the reporting season rather than the underlying earnings. >> they have quite a lot of leeway. they've given guidance to the analysts about what those earnings might look like in the near term. all the analysts are pawing at the results. all in all, a huge amount of activity and brain power wasted on something which in the near term has been well flagged,
slower growth in the economy, the eu debt crisis and superstorm sandy are expected to top issues. take a look at shares this morning. before the report, they're down .75% in frankfurt. so trailing the 34k9. they have been roughly flat over the last few months. james is a huge fan of werings season. you're so excited about this one, i know. >> i live for the wering hes season. you could spend almost your entire time -- >> there's only about three months of the year when you're not...
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Jan 21, 2013
01/13
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we're not hearing a lot about people joining the eu lately. if anything, it's the uk might exit. >> yeah. this long delayed speech by david cameron, the british prime minister, which is supposed to come up with some sort of call for some sort of referendum, i serpt won't we 2016, 2017 or 2018. i think there is a bigger risk of a brixet. but either there won't be a referendum because david cameron won't win the next election or there will be a referendum ask is we still won't leave the eu. but i think very damaging for investments and confidence that you have this thing that could be hanging over us for five years. >> exactly. this is not an issue that's going to be resolved in the near term. but, you know, iceland wants in, so it can't be all bad. as israelis heads to the polls tomorrow, most are expecting a victory for benjamin netanyahu. but while a third netten what hue terms remains a large possibility, david joins us with more. so thank you. the timing of this national re-election, which of these is most important to your point of view? >
we're not hearing a lot about people joining the eu lately. if anything, it's the uk might exit. >> yeah. this long delayed speech by david cameron, the british prime minister, which is supposed to come up with some sort of call for some sort of referendum, i serpt won't we 2016, 2017 or 2018. i think there is a bigger risk of a brixet. but either there won't be a referendum because david cameron won't win the next election or there will be a referendum ask is we still won't leave the eu....
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Jan 2, 2013
01/13
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plus, last month the eu agreed to a common european banking regulator which was a very big deal. there was overshadowed by our - u.s. if a turn is coming, at least a bottom, you need to get in before that happens. think the bottom is for rear, i think the 2012 bottom stands, if you wait until everybody thinks it's obvious you'll be out, you'll be too late. remember, the european markets kept rallying last year despite all the worries about the continent's weakness, german market, french market up 20%. uk market up 13.5%. how do you play europe? i prefer the van guard msci euro etf, symbol vgk. that's victor george ken for all of you home gamers. i like it so much i own it for my charitable trust. you can follow it. a lot of reasoning why stephanie link and i co-director believe in this. it pays you a solid 3.7% yield while you're waiting. next up, yeah, there's -- china. not done. chinese economy has been in the process of bottoming for a while now. i think the genuine turn could be at hand. we know the chinese central bank has been providing capital injections to banks. last yea
plus, last month the eu agreed to a common european banking regulator which was a very big deal. there was overshadowed by our - u.s. if a turn is coming, at least a bottom, you need to get in before that happens. think the bottom is for rear, i think the 2012 bottom stands, if you wait until everybody thinks it's obvious you'll be out, you'll be too late. remember, the european markets kept rallying last year despite all the worries about the continent's weakness, german market, french market...
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Jan 25, 2013
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. >> what are the implications of the uk leaving the eu? david cameron said he is going to have a referendum on this. >> you know, from an economic perspective, we expect europe to be a strong region and a strong player in the global economy. from an economic perspective, you don't want uncertainty. so our dear hope is that as usual the europeans will have discussions, will have debate, will argue, will face obstacles and hurdles and come out of it stronger and that's very much my personal hope with the uk. >> so glad you're checking on the program. thank you so much. great to see you. christine lagarde. >> stick around because maria has much more coming from davos including interviews with microsoft founder bill gates and pay pal cofounder peter thiel with incredible things to say about twitter. all of it not exactly positive. that is an interview you do not want to miss coming up here on "closing bell." >> absolutely. okay. we've got more than a half hour to go before the closing bell at this stage the dow moving up by about 0.3%, 48 poin
. >> what are the implications of the uk leaving the eu? david cameron said he is going to have a referendum on this. >> you know, from an economic perspective, we expect europe to be a strong region and a strong player in the global economy. from an economic perspective, you don't want uncertainty. so our dear hope is that as usual the europeans will have discussions, will have debate, will argue, will face obstacles and hurdles and come out of it stronger and that's very much my...
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Jan 9, 2013
01/13
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start with number 10, that eu structural problems we main unresolved. when i first heard that, i don't think they will be unresolved. you're right, the market has bid things it's looking like the world is better. >> last year, all the european markets were up and europe was in a semi-recession and all the european markets were up semi-20% and i have them down this year in reaction. >> what about the euro? >> euro is relative to the dollar. ecb expanding the money supply and fedex spanding money supply. it's a race to the bottom. i don't know who will win it but i don't think there will be much change to the euro. >> i don't think euro ever resolves this issue, does enough to put them off when under pressure. >> sounds familiar. >> that's the environment we're in. i do think the markets are signaling core europe and stock growing again this year, growing uf to keep the eurozone out of its recession. if that doesn't happen, markets will go down. >> the surprise component of that is the 10% decline in the various european indexes. that's what people aren't
start with number 10, that eu structural problems we main unresolved. when i first heard that, i don't think they will be unresolved. you're right, the market has bid things it's looking like the world is better. >> last year, all the european markets were up and europe was in a semi-recession and all the european markets were up semi-20% and i have them down this year in reaction. >> what about the euro? >> euro is relative to the dollar. ecb expanding the money supply and...
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Jan 23, 2013
01/13
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news in europe, david cameron vowing a referendum on whether britain remains in the eu. in japan, longest losing streak in two months. china awaits data, that's out tonight. the road map in the u.s. starts off at the golden arches. u.s. same-store sales up 9% for mcdonald's, helped by the dollar menu and mcrib. >> ibm and google surging premarket. google gets its price target raised by six firms this morning on better than expected earnings. >> coach getting pummeled this morning, blaming its big earnings miss on weakness in north america during the holidays. it says it is transforming itself into a lifestyle brand. >> apple's results tonight after the bell. could this be the quarter that marks the bottom on the stock. will tim cook talk about the next omg product in the pipeline. >>> we'll start with mcdonald's. it earned 1.38 nds the fourth quarter, it exceeded estimates. ceo don thompson said for the near term, mcdonald's expects top and bottom line growth to remain under pressure with january global comp sales expected to be negative. jim, it's come a long way since
news in europe, david cameron vowing a referendum on whether britain remains in the eu. in japan, longest losing streak in two months. china awaits data, that's out tonight. the road map in the u.s. starts off at the golden arches. u.s. same-store sales up 9% for mcdonald's, helped by the dollar menu and mcrib. >> ibm and google surging premarket. google gets its price target raised by six firms this morning on better than expected earnings. >> coach getting pummeled this morning,...
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Jan 24, 2013
01/13
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/eu trade is the one trade agreement that the u.s. has not done. that the europeans desperately need to get done. >> right. so the uk being part of that yes or no i would venture to say our government is going to have a lot to stay about the uk staying part of the eu i think as has been indicated. >> did you catch any of the comments about tax avoidance, sort of global tax avoidance issue? >> no, i did not. i'll stay quiet on that one. >> the other big topic here, energy. >> yes. >> and in particular, the u.s. energy situation, shale, fracking, et cetera, you bullish, you bearish, where do you think we really are? i mean people have prognosticated for now awhile that we were going to get there but doesn't seem like we're there. >> andrew, i think it is the bull case for the world. so to answer your question, i'm billish. and i think it's a game changer. and i think it is probably the story of global economic recovery if handled right. and frankly, the beneficiaries of that will be the u.s. consumer. u.s. jobs. i mean just in the downstream value ad
/eu trade is the one trade agreement that the u.s. has not done. that the europeans desperately need to get done. >> right. so the uk being part of that yes or no i would venture to say our government is going to have a lot to stay about the uk staying part of the eu i think as has been indicated. >> did you catch any of the comments about tax avoidance, sort of global tax avoidance issue? >> no, i did not. i'll stay quiet on that one. >> the other big topic here,...
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Jan 10, 2013
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delivers the message to britain saying you're special, but only special if you stay at the heart of the eu. they're under pressure to renegotiation the relationship with brussels. but the u.s. assistant secretary said such a plan would have major consequences. as chairman of the business in europe outlined on cnbc last night. >> we don't want to run the risk of trying to set the bar too high in the sense that there's some fantastic renegotiation we can have where we can cherry pick the bits we like, get rid of the bits we don't, because the chances of that happening are probably close to zero. so we don't want to see any risk in our membership. we want more reform by absolutely we do. we made that very clear in the letter. but we don't want to risk or membership because our membership is responsible for millions of jobs and underpins our future prosperity. >> so that debate is going to em. at the same time, david, you think the pound is going to come under pressure. it's a triple cocktail that's going to undermine it. what is that? >> yeah. that's the idea we had, we were talking last year
delivers the message to britain saying you're special, but only special if you stay at the heart of the eu. they're under pressure to renegotiation the relationship with brussels. but the u.s. assistant secretary said such a plan would have major consequences. as chairman of the business in europe outlined on cnbc last night. >> we don't want to run the risk of trying to set the bar too high in the sense that there's some fantastic renegotiation we can have where we can cherry pick the...
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Jan 23, 2013
01/13
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you go buy the 10 eu-year, rate finally move and lose your entire balance sheet. >> it's like cold weather. i was happy today with 10 degrees. i want this to be the coldest year, so the same -- the day after the speech it's all about climate change, i want it to be the coldest year in the last 50. >>> love these guys, csx. they gave guidance in december and in january and replied to us. >>> coming up, tennessee governor and member of the fix the debt campaign. [ male announcer ] you are a business pro. executor of efficiency. you can spot an amateur from a mile away... while going shoeless and metal-free in seconds. and you...rent from national. because only national lets you choose any car in the aisle...and go. you can even take a full-size or above, and still pay the mid-size price. now this...will work. [ male announcer ] just like you, business pro. just like you. go national. go like a pro. >>> one of the biggest points of contention in the ongoing government battle is entitlement reform. you see the stuff we talk about and see the demagoguing on both sides. the democrats saying repu
you go buy the 10 eu-year, rate finally move and lose your entire balance sheet. >> it's like cold weather. i was happy today with 10 degrees. i want this to be the coldest year, so the same -- the day after the speech it's all about climate change, i want it to be the coldest year in the last 50. >>> love these guys, csx. they gave guidance in december and in january and replied to us. >>> coming up, tennessee governor and member of the fix the debt campaign. [ male...
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Jan 31, 2013
01/13
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and you can see right now, the dollar is stronger against the eu euro. gold prices are down by about 6.30, $1675.30 an ounce. right now, let's get to the global markets report. ross westgate is standing by in london. good morning. we haven't seen you in quite a while. you have a lot of red behind you this morning. >> we have, indeed, becky. i saw andrew more recently than i've seen you over there in davos. yeah, look, we are down. you can see decleaners outpacing the decliners. we're down at the session low. down around .0. the spanish market down 1.5%. that's down to bank stocks. they're all off heavily because of santander. santander is europe's largest lender in the eurozone. stock off 2.3% today. there's 2012 net profit more than halved hurt by big losses in real estate, write-downs and property assets. also key growth spots as latin america down, as well. they're setting aside another 18 billion or 19 billion euros for provisions in 2012. they said they may still sell some more addette az. there's a lot of restructuring going on, as well. the market
and you can see right now, the dollar is stronger against the eu euro. gold prices are down by about 6.30, $1675.30 an ounce. right now, let's get to the global markets report. ross westgate is standing by in london. good morning. we haven't seen you in quite a while. you have a lot of red behind you this morning. >> we have, indeed, becky. i saw andrew more recently than i've seen you over there in davos. yeah, look, we are down. you can see decleaners outpacing the decliners. we're down...
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Jan 14, 2013
01/13
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now this morning saying eu commission, the european union body is basically saying no-go with the deal. it was sproefd to close towards the end of the last year. obviously, hasn't happened. today you can see the shares down 40%. this company is going to need a new ceo, a new strategic vision. and its biggest shareholder down about .3% on the news. fedex declined to comment this morning. now let's turn our attention briefly to this. it gives us a sense of this mentality of the crisis being over, that it's kind of gripped investors to keep hearing the bullish comments we have on people in the program. spain's ten-year still below 5% even though we're seeing prices down this morning and the yield for the ten-year in italy down 4.2. quick look at the euro/dollar which is benefiting here and has been doing pretty well of late. 1.3359. adding another .1%. just for joe, i'm going to skip talking about the yen today and that's in part because the nikkei is closed. back to you guys. >> i thought you were going to reference your -- is that a golden -- were you at the gold b globes? that looks li
now this morning saying eu commission, the european union body is basically saying no-go with the deal. it was sproefd to close towards the end of the last year. obviously, hasn't happened. today you can see the shares down 40%. this company is going to need a new ceo, a new strategic vision. and its biggest shareholder down about .3% on the news. fedex declined to comment this morning. now let's turn our attention briefly to this. it gives us a sense of this mentality of the crisis being over,...
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Jan 18, 2013
01/13
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david cameron puts off his big eu policy pictures first. the fed putting out a statement saying there are less than 30 british nationals overnight in those events. in the meantime, a moratorium indicating that the terrorist groups are going to use these kidnappings as a way of furthering their activity and raising funds. they're warning algerians, in fact, to stay away from some of these sights and is we've had guests this morning telling us that they think the market is underappreciating that this is a game changer in activity not just in mali, but across west africa in general. lastly, the aussie/dollar is down, too. there is some risk coming out in this risk off despite stocks doing better. the dollar/yen had punched through 90. it's now below 89. that was above 1 is.25. it's moving back to some of its gains. so some major levels hit in forex today, guys. it's not just about 1500 on the s&p. although to be sure, people around the world will be watching that level, as well. back over to you. >> kelly, are you behind the jap foes because t
david cameron puts off his big eu policy pictures first. the fed putting out a statement saying there are less than 30 british nationals overnight in those events. in the meantime, a moratorium indicating that the terrorist groups are going to use these kidnappings as a way of furthering their activity and raising funds. they're warning algerians, in fact, to stay away from some of these sights and is we've had guests this morning telling us that they think the market is underappreciating that...